California Lawmakers Pass Bill Targeting Meme Coins Issued by Public Officials
The measure would bar official-linked tokens for California residents and let state and local prosecutors seek injunctions and disgorgement.
- California lawmakers passed Assembly Bill 2409, restricting memecoins linked to public officials, and sent the measure to Gov. Gavin Newsom for signature. Lawmakers cited concerns over conflicts of interest and "pay-to-play arrangements."
- Scrutiny of President Donald Trump's Official TRUMP token accelerated efforts to restrict political meme coins. Lawmakers aimed to prevent officials from using government authority for private financial gain.
- The California Senate passed the measure in a 40-0 vote on Wednesday, followed by the Assembly's 78-0 concurrence. The bill prohibits public officials from issuing meme coins while restricting platforms from listing official-linked tokens.
- Beginning Jan. 1, 2027, digital asset service providers cannot offer California residents meme coins issued in partnership with public officers. The legislation applies to assets deriving value from public interest or speculation.
- Coinciding with stalled federal negotiations over the Digital Asset Market Clarity Act, the bill highlights ongoing debates in Congress, where Sen. Kirsten Gillibrand has pushed for stricter ethics provisions regarding digital assets.
15 Articles
15 Articles
California lawmakers pass bill targeting meme coins issued by public officials
California lawmakers have passed AB 2409, which would prohibit state and local public officials from issuing meme coins and restrict digital asset platforms from offering certain official-linked tokens to California residents beginning in 2027. The California Legislature’s latest text for…
California Meme Coin Bill Targets Public Officials and Crypto Platforms
Key Insights California lawmakers have approved legislation targeting meme coins connected to public officials. Assembly Bill 2409 would prohibit covered state and local officials and specified government employees from issuing meme coins. It would also restrict digital asset service providers from listing certain tokens associated with public officials for California residents. The Assembly agreed to […] The post California Meme Coin Bill Targe…
California memecoin bill restricts officials tokens
The California memecoin bill moved forward after California lawmakers approved Assembly Bill 2409, a measure focused on limiting public officials’ involvement with certain memecoins. According to Legiscan data, the California Senate passed the bill in a 40-0 vote on Wednesday, and the Assembly later voted 78-0 to concur in the Senate’s amendments. The proposal would… The post California memecoin bill restricts officials tokens first appeared on …
California passes first US law banning politicians from launching memecoins
California's Assembly Bill 2409 passed the Senate 40-0 and the Assembly 78-0 this week, becoming the first US state law to bar public officials from issuing memecoins starting in 2027. The bill's own legislative analysis cites Trump's $TRUMP coin, which the Senate Judiciary Committee says earned Trump and his family more than $280 million, as the reason the law exists, even though that coin is grandfathered in and exempt.
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